Augmented reality shopping app developer raises $300,000


seemoreA first close of $300,000 was initiated by SeeMore Interactive on its fundraising effort started last month. 50% of the $600,000 non-brokered equity offering was placed with twelve investors. Up to now SeeMore Interactive had raised an estimated $1.2 million in unregistered securities via one financing round. The company is backed by TechColumbus a pre-seed investment fund.

The company is marketing a cloud application (app) for retailers and organizations to engage their customers by letting them interact with products while shopping. The app integrates image recognition, recommendation engine, incentives and loyalty programs as well as location-based technologies with augmented reality (AR)* to turn customers’ smartphones or mobile devices into a digital interactive experience. Retailers also get insight on their customers’ behavior while shopping.

Neal Applefeld (President and CEO) leads the Bexley OH based company which was registered in 2012. SeeMore Interactive elected to keep its revenues undisclosed.

Offering recap
Status: First close
Company: SeeMore Interactive
Industry: Other Technology
Amount offered: $600,000
Amount placed: $300,000
First sale: 2014-01-30

*AR is a live, copy, view of a physical, real-world environment whose elements are augmented (or supplemented) by computer-generated sensory input such as sound, video, graphics or GPS data.

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